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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.

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LAW OF DEMAND

The inverse relationship between demand price and the quantity demanded, assuming ceteris paribus factors are held constant. This fundamental economic principle indicates that a decrease the price of a commodity results in an increase in the quantity of the commodity that buyers are willing and able to purchase in a given period of time, if other factors are held constant. The law of demand is one of the most important principles found in the study of economics.

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APLS

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for slow moving vehicles with darkened windows.
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The average length of a "business lunch" is about 36 minutes.
"Opportunities are usually disguised as hard work, so most people don't recognize them."

-- Ann Landers, columnist

ILS
Indirect Least Squares, International Labor Standards
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